Uniswap Foundation launches first wave of grants totaling $1.8 million

Uniswap

Uniswap Foundation, the organization overseeing the development of the largest DEX in the world, has stated that the first wave of grants totals nearly $1.8 million.

According to the official announcement, the grants vary in size and scope and are divided into three areas: protocol growth, community growth and administrative stewardship.

Uniswap Diamond

Uniswap Diamond is heralded as one of the most ambitious initiatives funded by Uniswap Grants. All stakeholders in the ecosystem are expected to benefit from this.

The goal is to improve the professional trader and LP experience, increase market share and facilitate development and on-chain data analysis. In view of historical and real-time on-chain data, API and SDK will be added, which is expected to be a game-changer for developers building on top of Uniswap, analysts and end users.

In addition, Diamond will also include a professional interface aimed at increasing Uniswap’s market share among professional users familiar with the features of a more traditional centralized exchange. Despite being a DEX leader, Uniswap only has about 1% of all crypto trading market shares. However, Uniswap Diamond aims to increase that share by competing directly with the leading centralized platforms in terms of user experience and data.

The grant will be built through the cross-chain governance research – GFX Labs – which has been active Uniswap contributors since its inception. Notably, the GFX team was one of the first liquidity providers on v3.

“We are particularly excited about this grant as it represents the kind of ambitious, impactful, long-term work that the newly established Foundation can uniquely support. We are also excited to build a stronger bond between GFX Labs – a talented development team that has already shown a strong commitment to Uniswap – and the ecosystem as a whole.”

Meanwhile, Uniswap.fish, Decentralized Volatility Oracle and Numoen are also some of the prominent grants besides Diamond.

“Innovative governance”

Uniswap Foundation’s ambitious plan to streamline Uniswap’s Grant Program (UPG) and reduce friction in the protocol’s governance system became a reality last month. The original proposal received more than 99% of the votes from UNI holders.

Presenting the proposal, former Uniswap Chief of Staff Devin Walsh said the team had already developed at a rapid pace while achieving its top priorities in areas such as expanding the talent pool, ramping up the Uniswap Grants program and “reviving the governance process.”

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